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Dec 8, 2012
12/12
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the economy pretty fast" if lawmakers don't settle the fiscal cliff issue. he's chief economist of moody's analytics. so mark falling off the fiscal cliff means bad things. how bad? >> it could be quite bad, susie. i don't think it's if we get into january and we haven't settled this but if house makers haven't nailed this down by early february, i think stock investors, bond investors will start to get very very nervous, start selling, risky businesses pull back and by the end of february when we start approaching the ceiling for the debt limit, i think we'll be back in recession. it will be a fairly severe recession. so policy makers have a few weeks but not much more than that. they have to get this together. >> susie: some people are saying that today's jobs report is very encouraging and that you can look at this as a way that maybe the economy can handle some stuff belt tightening because things are looking a little bit better. how do you think the various parties, republican and democrats will handle this jobs report in their fiscal cliff negotiations
the economy pretty fast" if lawmakers don't settle the fiscal cliff issue. he's chief economist of moody's analytics. so mark falling off the fiscal cliff means bad things. how bad? >> it could be quite bad, susie. i don't think it's if we get into january and we haven't settled this but if house makers haven't nailed this down by early february, i think stock investors, bond investors will start to get very very nervous, start selling, risky businesses pull back and by the end of...
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Dec 10, 2012
12/12
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KGO
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tax increase. it is monday, december 10th. >>> from abc news, this is "world news now." >> good monday morning. i'm sunny hostin in for paula faris. >> i'm john muller, rob nelson has the morning off. we're going to find out what the president and house speaker boehner are saying after a face-to-face meeting over the fiscal cliff. >>> also this half hour, hopes and prayers for nelson mandela. the human rights hero is in a south africa hospital this morning. >>> also coming up, new hope in the fight against alzheimer's disease, experimental surgery to implant a kind of pacemaker for the brain is showing early success. >> an interesting one. >> yes. >>> later, daytime smack down, wendy williams lets loose with some harsh words about beyonce. what the talk show host is saying about the singer coming up in "the skinny." >> that's never going to go well. talking badly about beyonce. a bad move. >> going after beyonce is a tough one. >>> new signs of progress in efforts to avoid the fiscal cliff after a
tax increase. it is monday, december 10th. >>> from abc news, this is "world news now." >> good monday morning. i'm sunny hostin in for paula faris. >> i'm john muller, rob nelson has the morning off. we're going to find out what the president and house speaker boehner are saying after a face-to-face meeting over the fiscal cliff. >>> also this half hour, hopes and prayers for nelson mandela. the human rights hero is in a south africa hospital this...
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Dec 13, 2012
12/12
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FOXNEWSW
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>> people are doing interesting things when it comes to the fiscal cliff and taxes. overall h & r block there's one in every five miles of every american. they are every where. this is not just for the month of december. this is going to be going through into january and february. this is their busy time. they hire about 100,000 year-round. the peak season is october to january. tax professionals client service customer care positions, customer care, tech support. one in every tax return in this country that is filed h & r block does it. the fiscal cliff is changing especially with the real estate market i will talk about that next week. they are busy right now. we want to know how to file our taxes. >>> they are lacking toer more than masking. >> exactly. >> everything is listed at my block casone exchange.com. you can apply. we are going to be getting follow up with the fed and crazy decision that took many of us by surprise. >> it is 25 minutes after the hour. he sacrificed his life to save the lives of fellow soldiers in iraq. why is the military refusing to give
>> people are doing interesting things when it comes to the fiscal cliff and taxes. overall h & r block there's one in every five miles of every american. they are every where. this is not just for the month of december. this is going to be going through into january and february. this is their busy time. they hire about 100,000 year-round. the peak season is october to january. tax professionals client service customer care positions, customer care, tech support. one in every tax...
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Dec 5, 2012
12/12
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WUSA
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with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, ther there a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary tkpwaoeugter in'ers.e.c.geithneg over the cliff, the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me -- or do not used a skwrebgive thes like "curt," "frank" and "direct" m
with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, ther there a code of silence the...
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Dec 12, 2012
12/12
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CSPAN
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we passed a bill a few months ago that prevents the fiscal cliff by saying no taxes will be increased, a bipartisan bill. all of those votes, were criticized for. they called us right wing nuts and extremists. we explain to the people what we want to do to get our economy moving again, but also to control spending in washington. and we were reelected with a mandate not only to continue to be in charge of the house, but to be the line of defense against the radical administration. i think we know what our task is. all but, for candidates -- all but four of the 30 candidates elected are talking about joining rsc. they were elected on these principles we believe in. i am comfortable with where we are positioned now, but i know it is going to be a tough ride ahead. we would not be doing this if it was not a mandate the people sent us to go do. >> something on all of our minds is the fiscal cliff. i would be remiss if i did not ask you both to weigh in on it in the following way. first, what is going on that we do not understand? number two, what should happen? number 3, what is the rsc go
we passed a bill a few months ago that prevents the fiscal cliff by saying no taxes will be increased, a bipartisan bill. all of those votes, were criticized for. they called us right wing nuts and extremists. we explain to the people what we want to do to get our economy moving again, but also to control spending in washington. and we were reelected with a mandate not only to continue to be in charge of the house, but to be the line of defense against the radical administration. i think we...
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Dec 6, 2012
12/12
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WUSA
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. >>> this is a 9 news fiscal cliff note. >> fact, child care tax credits will be really reduced. right now a taxpayer gets a $1,000 tax credit per child each year. the credit kicks in when you file your annual income taxes, but if the reduction goes through, you will only be able to deduct $500, a 50% decrease. here's the back story. this year american families will claim over $38 billion in total child credits. if a compromise isn't reached soon, $37 billion in credits are due to be eliminated. why is this happening? it's part of an effort to slash $503 billion from the federal budget deficit through tax increases and deep spending cuts. >> you can learn more any time at www.wusa9.com and on 9 news. this has been a 9 news fiscal cliff note. >>> as we've been telling you here on 9 news, if an agreement cannot be reached by the 1st of the year, the cuts will have an enormous impact on houses, businesses and you name it and put a huge dent into medical research and drug development, possibly for years to come. automatic federal budget cuts means funding for the national institutes
. >>> this is a 9 news fiscal cliff note. >> fact, child care tax credits will be really reduced. right now a taxpayer gets a $1,000 tax credit per child each year. the credit kicks in when you file your annual income taxes, but if the reduction goes through, you will only be able to deduct $500, a 50% decrease. here's the back story. this year american families will claim over $38 billion in total child credits. if a compromise isn't reached soon, $37 billion in credits are due...
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Dec 10, 2012
12/12
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cliff. and the two most important players involving the financial future of our nation. i'm harris falkner, we're told a meeting was held behind closed door and without the media's knowledge and both men tight-lipped about what was said and when we asked for comments, both giving us the same statement, quote, this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff, we're not reading out details of the communication, but the lines of communication remain open, end quote. this meeting comes as the white house and congress appear to be at at impasse, you know by now is crippling spending and tax hikes and could cost us jobs and send us back into recession and to solve the problem, republicans say we must prevent our ballooning national debt from crushing generations. and chief white house correspondent now ed henry joins us by phone with the latest on this breaking story, ed, they kept this under wraps. how big after deal is this? >
cliff. and the two most important players involving the financial future of our nation. i'm harris falkner, we're told a meeting was held behind closed door and without the media's knowledge and both men tight-lipped about what was said and when we asked for comments, both giving us the same statement, quote, this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff, we're not reading out details of the communication, but the lines of...
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Dec 8, 2012
12/12
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CSPAN
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everyone talks about taxes and what is going to happen with the fiscal cliff. there has been $1500 gone to increase oil prices. you can get them that tax cut today if you invested in our report. everybody talks about entitlements. high oil prices make the social security trust insolvent five years sooner than they would if he did not have high oil prices. america needs jobs and growth. following the recommendations in our report will lead to both of those. it would be good for american business. >> i will start with senator alexander. tell me about energy policy and where it fits in with the fiscal cliff. what we will spend money on and how we were tightened our belts. >> the major place it fits is the right policy would create an environment which would produce a lot more revenue. that would help to reduce the debt. the federal government doesn't spend much money on energy. energy research is about $6 billion a year. i would like to see it doubled. this report is a blueprint for independence and i think it is the right blueprint. we are not in a position to be
everyone talks about taxes and what is going to happen with the fiscal cliff. there has been $1500 gone to increase oil prices. you can get them that tax cut today if you invested in our report. everybody talks about entitlements. high oil prices make the social security trust insolvent five years sooner than they would if he did not have high oil prices. america needs jobs and growth. following the recommendations in our report will lead to both of those. it would be good for american...
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up ext, the fiscal cliff. it is hung up on tax forthe rich. not really. we will tell you why those taxes argoing upregardless othe deal. torrow, formeru.s. ambsador to the unite nations, moody's keep -- chief eonomists. st-selling author among our guest. please be th us. and as we go to break, here's a little christmas cheer. ♪ lou: prgress on avoiding the fiscal clifford appears to be, ll, stifled. it turns up the president is hitting the rich with tax increases regardless. the internal revenueservice releasg 159 new regulations and rules, heading investment income and wages for high income individuals. these regulationspassed has thing to do, of course, with the fiscal cliff and everything to d with obamacare, including a almost 4 percent surtax on capital gains and dividends, plus almost 1 percent tax on the new tax is estmated to. generate threonine 117 billion over ten years, just about 12 percent of the two and a half trilon the budget committee estimatethe law will cost of that time. here we go. 2013 looks le an interesting, interesting yer. this
up ext, the fiscal cliff. it is hung up on tax forthe rich. not really. we will tell you why those taxes argoing upregardless othe deal. torrow, formeru.s. ambsador to the unite nations, moody's keep -- chief eonomists. st-selling author among our guest. please be th us. and as we go to break, here's a little christmas cheer. ♪ lou: prgress on avoiding the fiscal clifford appears to be, ll, stifled. it turns up the president is hitting the rich with tax increases regardless. the internal...
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Dec 10, 2012
12/12
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FBC
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on high income people, if we raise taxes for the fiscal cliff or for debt ceiling, do you believe the will also raise taxes on middle class. 60% percent of americans understand that once the politicians get the bloodlust out there, once they smell the blood in the water, once they raise taxes on the few, they go after the many. melissa: oh, i absolutely believe that's right but i think that the point is the republicans are losing momentum on the side of not raising taxes. that it is starting to feel more and more like there must be some concession, there must be some caving to get through the fiscal cliff. when you look at senators who have said they're going back on the pledge, lindsey graham, bob corker, tom coburn, lamar alexander, eric cantor, what do you do at this point to keep the fight going? or do you think that it is necessary to concede a little bit of ground? >> well, two things. the senators, the republican senators to a certain extent don't matter because the democratic senate can pass a tax increase if they want the senaaors you mentioned would only vote for a tax incre
on high income people, if we raise taxes for the fiscal cliff or for debt ceiling, do you believe the will also raise taxes on middle class. 60% percent of americans understand that once the politicians get the bloodlust out there, once they smell the blood in the water, once they raise taxes on the few, they go after the many. melissa: oh, i absolutely believe that's right but i think that the point is the republicans are losing momentum on the side of not raising taxes. that it is starting to...
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Dec 10, 2012
12/12
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CNN
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time for a fiscal cliff update for you. nothing much going on in public at least as president obama hits the road to campaign for higher tax rates on the rich. the list of pledge signers willing to consider raising taxes on the rich already includes republican senator bob corker of tennessee. not that he or the others you see here really want taxes to go up for anyone, but corker says agreeing to increases for the top 2% shifts the discussion. >> a lot of people are putting forth a theory and i actually think it has merit where you go ahead and give the president the 2% increase that he's talking about, the rate increase on the top 2%, and all of a sudden the shift goes back to entitlements. >> the shift he's talking about is the political pressure to get larger spending cuts which a good many democrats oppose. we'll see how it works out for him because spending cuts are not working out for italy's government. prime minister mario monti announced he would resign after losing support over his austerity moves. a return of pol
time for a fiscal cliff update for you. nothing much going on in public at least as president obama hits the road to campaign for higher tax rates on the rich. the list of pledge signers willing to consider raising taxes on the rich already includes republican senator bob corker of tennessee. not that he or the others you see here really want taxes to go up for anyone, but corker says agreeing to increases for the top 2% shifts the discussion. >> a lot of people are putting forth a theory...
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Dec 7, 2012
12/12
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CNNW
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look, you are talking about the fiscal cliff, 25 days away until these tax hikes and federal spending cuts go into effect. you are looking at wall street. it is not making any big moves because of the uncertainty of what is going to happen with this. how long are politicians going to continue dragging their feet. and it is not just wall street. you know, it is beginning to eat into consumer confidence. we just got this index, university of michigan consumer confidence index. just a short time ago, this morning. it showed that consumer confidence plunged and in the first week of its month because americans don't know what to expect taxwise. that's a bad sign for retailers at the most important time of the year. the holidays. because guess what, if consumers aren't feeling confident, they are no going to spend. that domino effect that hit retailers, many of these retailers depend on the holiday sales to push them into a profit important the year. this is what's weighing out there in -- you know, for consumers, yes. fiscal cliff definitely weighing on things. despite the fact that the jo
look, you are talking about the fiscal cliff, 25 days away until these tax hikes and federal spending cuts go into effect. you are looking at wall street. it is not making any big moves because of the uncertainty of what is going to happen with this. how long are politicians going to continue dragging their feet. and it is not just wall street. you know, it is beginning to eat into consumer confidence. we just got this index, university of michigan consumer confidence index. just a short time...
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Dec 6, 2012
12/12
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WJLA
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. >>> first, the struggle over avoiding the fiscal cliff. new polling suggests support for president obama's position in the standoff with congressional republicans. >> the new associated press poll find 48% of americans want tax cuts for wealthy to expire. and it says more people want to cut government services than raise taxes to reduce the federal deficit. >> if the nation goes over the cliff at the end of the year it is going to affect everyone including the unemployed as abc's jonathan karl reports. >> reporter: melinda vega has been put on notice. if congress and the president don't get their act together, her unemployment checks will stop immediately at the end of the year. >> we're dependent on that money to pay the bills. she has been what a job for a year. her $450 a week unemployment check her life line. >> we won't be able to pay some of our bills and, i mean, you know, that's for christmas and things of that nature, probably off the table. >> reporter: she is not alone. without a deal, unemployment compensation will end for more
. >>> first, the struggle over avoiding the fiscal cliff. new polling suggests support for president obama's position in the standoff with congressional republicans. >> the new associated press poll find 48% of americans want tax cuts for wealthy to expire. and it says more people want to cut government services than raise taxes to reduce the federal deficit. >> if the nation goes over the cliff at the end of the year it is going to affect everyone including the unemployed...
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Dec 6, 2012
12/12
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we say let's do it all. >> even at the expense of going off the fiscal cliff because if we do that taxes will go up on middle class americans to the tune of 2,000 plus dollars. >> and my whole point is we can put the brakes on the fiscal cliff. they say let's cut taxes for the first $250,000. democrats say that. let's agree and pass what we can agree on and where we can't agree, we can have debates later on. i think the figure ought to be higher than $250,000. i think it should reflect the cost of living in high cost areas like long island. i'm not going to tell my constituents that make less than $250,000, that it should be more. we can all agree on $250,000 and debate what we cannot agree on. >> something about the negotiations themselves seems unusual to me. it seems that house republicans are dealing directly with president obama and sort of skipping over their democratic counterparts like what are you guys doing? >> look, everybody needs to get into a room. there's no question about it. and i don't care whether you are negotiating a baseball contract or negotiating a solution to thi
we say let's do it all. >> even at the expense of going off the fiscal cliff because if we do that taxes will go up on middle class americans to the tune of 2,000 plus dollars. >> and my whole point is we can put the brakes on the fiscal cliff. they say let's cut taxes for the first $250,000. democrats say that. let's agree and pass what we can agree on and where we can't agree, we can have debates later on. i think the figure ought to be higher than $250,000. i think it should...
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up next, the fiscal cliff. it is hung up on tax for the rich. not really. we will tell you why those taxes are going up regardless of the deal. tomorrow, former u.s. ambassador to the united nations, moody's keep -- chief economists. best-selling author among our guest. please be with us. and as we go to break, here's a little christmas cheer. before pd... i took my son fishing every year. e had greaspot, not easy find, but worth it. butith copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it t helps significantly improe my lungunction starting within five nutes. sybicort doesn replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better. and thameans...fish on! symbicort is for copd including chronicnchitis and emphysema. it should n be taken rthan twice day. sybirt may increase your risk of lung fections, osteoporosis,s, d some eye problems. ll ur doct if you have a heart condition ohigh blood pressure before taking it. with copd, i thought i'd miss our family tradition now s
up next, the fiscal cliff. it is hung up on tax for the rich. not really. we will tell you why those taxes are going up regardless of the deal. tomorrow, former u.s. ambassador to the united nations, moody's keep -- chief economists. best-selling author among our guest. please be with us. and as we go to break, here's a little christmas cheer. before pd... i took my son fishing every year. e had greaspot, not easy find, but worth it. butith copd making it hard to breathe, i thought those days...
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Dec 11, 2012
12/12
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KTVU
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. >> people are disgusted at the notion of a fiscal cliff took their feelings to the streets today. [ singing ] >> 75 protesters rallied downtown at noon and the raging grannies sang. the demonstration was organized by the american dream counsel and moveon.org. they are asking the public to contact john boehner. >> we are focusing our rally on john boehner and asking him to pay attention to what is good for the country instead of protecting himself. >> the group says they will target any lawmaker who tries to cut a deal over the fiscal cliff. >>> thousands will pause saturday to remember those who lost their lives serving our country. [ bagpipes playing ] >> the kickoff was held today at the state capttle. -- capital. >> makes you quietly think that, one, you are glad to be an american, you have to say thank you to these individuals who gave their service to the country. >> 400,000 wreaths are expected to be placed this weekend. >>> vandals hit a radio station for a third time and knock it off the air. how they got around the alarm system. >> how low temperatures will drop and when ra
. >> people are disgusted at the notion of a fiscal cliff took their feelings to the streets today. [ singing ] >> 75 protesters rallied downtown at noon and the raging grannies sang. the demonstration was organized by the american dream counsel and moveon.org. they are asking the public to contact john boehner. >> we are focusing our rally on john boehner and asking him to pay attention to what is good for the country instead of protecting himself. >> the group says...
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also more americans are finally waking up to the fiscal cliff. december consumer sentiment nosedived to a five-year high, because of fiscal cliff fears. a spike in taxes would leave a lot less money lying around for the iphone or ipad. shares of apple fell 2%. >>> thanks to a study by the department of energy the u.s. may be closer to approve natural gas exports. data shows it could improve the economy by $47 billion in 2020. we need that. sounds like a win-win. we have the ceo of bright link oil and gas. chris, thanks for joining us. >> thank you. melissa: what do you make of this report? first of all, do you buy it? do you think it's possible? >> i do think it's possible and i'm glad to see it come out. what it really does now it shows over the 12 different scenarios that the government study investigated each one of those scenarios came back and said america will benefit and have a positive economic gain if we export lng offshore to europe, and or asia and to other countries that need our gas. melissa: we have so much natural gas unlocked as a
also more americans are finally waking up to the fiscal cliff. december consumer sentiment nosedived to a five-year high, because of fiscal cliff fears. a spike in taxes would leave a lot less money lying around for the iphone or ipad. shares of apple fell 2%. >>> thanks to a study by the department of energy the u.s. may be closer to approve natural gas exports. data shows it could improve the economy by $47 billion in 2020. we need that. sounds like a win-win. we have the ceo of...
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Dec 9, 2012
12/12
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FOXNEWS
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thank you very much. >>> much of the conversation in washington regarding the fiscal cliff is focused on tax rates or how the federal government can bring in more revenue from you. what about the other side of the equation? cutting back on spending and borrowing. steve moore joins us to talk about that and separate fact from fiction when it comes to the numbers. >> thank you for asking that question about the spending side of the ledger. the laos two or three weeks the discussion has been about raising taxes and no discussion about reducing the amount -- the outgo. >> let's start there. if we stopped overspending, what would it take for the government to get lined up, to get rid of the debt and deficit. >> we've dug ourselves into a deep hole. when i came to washington we talked about the budget, deficit in the billions, now in the trillions of dollars. part of the problem is the numbers are large but it's a million, million dollars. the debt is $6 trillion and we're borrowing $1.1 trillion a year. the problem the president faces, even if he gets his tax increase on the rich in negoti
thank you very much. >>> much of the conversation in washington regarding the fiscal cliff is focused on tax rates or how the federal government can bring in more revenue from you. what about the other side of the equation? cutting back on spending and borrowing. steve moore joins us to talk about that and separate fact from fiction when it comes to the numbers. >> thank you for asking that question about the spending side of the ledger. the laos two or three weeks the discussion...
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Dec 12, 2012
12/12
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CSPAN
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with regard to the federal government, there is a lot of attention on the so-called fiscal cliff. i think here everyone knows what that relates to. that is really more the system. it is not the disease. but washington typically does, it focuses on some things rather than the disease. we need to avoid the fiscal cliff. we need to recognize reality. there is only so much that can be done the balance of this year. we need to do a credible down payment and build a bridge to a grand bargain which would involve more fundamental reforms that have to be achieved. but it controls. -- budget controls. we had but the controls until 2002. we had been out of control ever since. we have had democratic spending policies of republican tax policies which leads to large escalating debt. we are going to have to reform the social insurance programs. we have to reduce defense programs and other spending and the gate in a comprehensive tax reform. that takes time. it will have to of all -- involve extraordinary presidential leadership, which we have not had in a while. hopefully we will get that. it wi
with regard to the federal government, there is a lot of attention on the so-called fiscal cliff. i think here everyone knows what that relates to. that is really more the system. it is not the disease. but washington typically does, it focuses on some things rather than the disease. we need to avoid the fiscal cliff. we need to recognize reality. there is only so much that can be done the balance of this year. we need to do a credible down payment and build a bridge to a grand bargain which...
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Dec 10, 2012
12/12
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WBAL
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and spending stalemate that threatens to take the country over the fiscal cliff in just over three weeks. meanwhile, one by one republicans are bowing to the president's demand that taxes go up for the wealthy. >> will i accept a tax increase as a part of a deal to actually solve our problems? yes. >> we don't have a lot of cards as it relates to the tax issue before year end. i mean, we have one house, that's it. the presidency and the senate in the democrats' hands. >> since we agree with democrats, 98% of the american people and 80% of the bush tax cuts, to me i would get that off the table so they don't worry about it. >> reporter: democrats insist taxes are going up on the rich no matter what. >> if you don't increase tax rates on the highest 2% of income earners, you cannot generate enough revenue to have meaningful deficit reduction. >> reporter: republicans want big spending cuts to programs like medicare and says. >> we don't want to be back here in another year, another ten years answering the same questions. >> reporter: as the talks continue on both sides of pennsylvania aven
and spending stalemate that threatens to take the country over the fiscal cliff in just over three weeks. meanwhile, one by one republicans are bowing to the president's demand that taxes go up for the wealthy. >> will i accept a tax increase as a part of a deal to actually solve our problems? yes. >> we don't have a lot of cards as it relates to the tax issue before year end. i mean, we have one house, that's it. the presidency and the senate in the democrats' hands. >> since...
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Dec 8, 2012
12/12
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it's about the money. >> so is 37 the magic number in this fiscal cliff debate? "outfront," two men who know taxes very well. douglas holtz-ekin, president of the american action forum and robert reich from the university of california and berkeley and former secretary under bill clinton. douglas, does this sound like code for a deal in the works? >> it certainly is good news that they aren't taking things off the table. i would be premature if i was celebrating a deal. there's a long way to go. it's important that they reach an agreement. the fiscal cliff is a very real danger to the united states economy. it's a recipe for a recession. and i certainly would not like to see the rhetoric that we saw from the treasury secretary tim geithner who said he's prepared to go over the fiscal cliff. that is not a good way to talk about what's going on right now. >> mr. reich, let me ask you the same thing. do you think there's code suggesting they are working towards something? because, doug, as you point out, the language was really harsh during this week. but all of a s
it's about the money. >> so is 37 the magic number in this fiscal cliff debate? "outfront," two men who know taxes very well. douglas holtz-ekin, president of the american action forum and robert reich from the university of california and berkeley and former secretary under bill clinton. douglas, does this sound like code for a deal in the works? >> it certainly is good news that they aren't taking things off the table. i would be premature if i was celebrating a deal....
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a second reason that the tax extenders are different from other issues related to the fiscal cliff is that we have a tax extenders bill that's already been voted on in committee. by contrast, none of us know how the disagreements about the bush tax cuts or sequestration will be resolved. those negotiations are yet to conclude, but the tax extenders bill has already been negotiated in the finance committee. the committee agreed to permit provisions costing billions of dollars. it modified other provisions to make them work better or to scale back on them. the finance committee approved this bill by a vote of 19-5. some senators believe tax extenders should only be approved as part of a plan to do comprehensive tax reform. i would agree that each tax extender and each tax expenditure should be examined again during comprehensive tax reform. each should be made permanent or fazed out based on that review, but realistically, the congress will not make those decisions before the end of this year. tax reform will take the better part of a year to accomplish or perhaps even longer. we will n
a second reason that the tax extenders are different from other issues related to the fiscal cliff is that we have a tax extenders bill that's already been voted on in committee. by contrast, none of us know how the disagreements about the bush tax cuts or sequestration will be resolved. those negotiations are yet to conclude, but the tax extenders bill has already been negotiated in the finance committee. the committee agreed to permit provisions costing billions of dollars. it modified other...
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we can't sit here and negotiate with ourselves. >> still no face-to-face talks on that "fiscal cliff." >> there will be no deal without a compromise on taxes. >> state lawmakers fixing their cars on your dime. >> as a taxpayer, you know, it's my money going to it so it's certainly frustrating. >> oakland police fend off the feds. >> most importantly, what they avoid is a complete federal takeover something that would be an embarrassment for the city. >> i have documentation that proves the intense corruption at all levels of the belizian government. >> busted and heading back to belize. silicon valley tycoon john mcafee is now under arrest. >> the dungeness crab season just got started and already, the boats are idle. >> from across the bay -- >> it's just imagine cal for me. >> -- to around the world, the stories that matter on "eyewitness news this morning." >> your realtime captioner: linda marie macdonald captions by: caption colorado comments@captioncolorado.com >>> good morning, it's thursday, december 6. i'm michelle griego. >> hi, everyone. i'm frank mallicoat. it is 6:30 on t
we can't sit here and negotiate with ourselves. >> still no face-to-face talks on that "fiscal cliff." >> there will be no deal without a compromise on taxes. >> state lawmakers fixing their cars on your dime. >> as a taxpayer, you know, it's my money going to it so it's certainly frustrating. >> oakland police fend off the feds. >> most importantly, what they avoid is a complete federal takeover something that would be an embarrassment for the...
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one is that fiscal cliff, to is the debt ceiling. three is the so-called big deal that has to be done on our debt and deficit. of fortunately those issues, convoluted, especially in this town. they are distinct. the impact each other but they are distinct. this fiscal cliff is an artificial state. congress came in, said this law expires on this date. they extended it wants. they put in the sequestration. it is a date. all they have to do is extend the date and allow themselves time to discuss the issues. instead they are putting it all into a lame duck session. that is a problem. sometimes it leads to bad policy. the fiscal cliff can have real consequences. cbo has said that it would cause a recession if we were to go off the fiscal cliff. i do not dispute that i do point out that in 1993 when these taxes were first put in, many said they will cause a recession. they did not. the economy is improving on its own right now. and getting some much stronger. the impact of the fiscal cliff, while not something to be encouraged, may not be
one is that fiscal cliff, to is the debt ceiling. three is the so-called big deal that has to be done on our debt and deficit. of fortunately those issues, convoluted, especially in this town. they are distinct. the impact each other but they are distinct. this fiscal cliff is an artificial state. congress came in, said this law expires on this date. they extended it wants. they put in the sequestration. it is a date. all they have to do is extend the date and allow themselves time to discuss...
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with about four weeks to go before that fiscal cliff of tax hikes and spending cuts gets triggered, negotiations still appeared at a standstill on tuesday. karin caifa tells us where everything stands. >> in the midst of a standoff with capitol hill republicans, president obama told bloomberg news that the latest plan put forth by house speaker john boehner, simply doesn't add up. the >> speaker's proposal right now is still out of balance. he talks about, for example, eight hundred billion dollars worth of revenues but he says he will do that by lowering rates. when you look at the math, it does does not work. >> not work. as negotiations as negotiations to avoid the so-called "fiscal cliff" continue, republicans were equally dismissive of the last proposal from the president. >> his proposal was so outlandish i don't think we should go back to the table until he puts something there that we can work with. >> the key sticking point between the two sides hasn't changed -- tax rates for the wealthy. >> the math is clear. the only way to accomplish these things is to allow the rates to go up on th
with about four weeks to go before that fiscal cliff of tax hikes and spending cuts gets triggered, negotiations still appeared at a standstill on tuesday. karin caifa tells us where everything stands. >> in the midst of a standoff with capitol hill republicans, president obama told bloomberg news that the latest plan put forth by house speaker john boehner, simply doesn't add up. the >> speaker's proposal right now is still out of balance. he talks about, for example, eight hundred...
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i would rather go over the fiscal cliff. >> i don't want to go over the fiscal cliff, but i am not for raising the tax rates. you are not getting to the heart of the problem. it is continuing to sweep of the rock. stuart: you may come to a point where that is the twisted your facing. if he don't say yes on raising tax rates we will go over the cliff. when the going to do if push comes to shove at the very end of this month. >> and what we're trying to do them all we have been trying to do for years is to not come to this point. had we been addressing the need for a pro-growth agenda so that we could be growing in our way out a part of this problem, had we been addressing appropriate spending cuts, the reforms that were necessary. to just say let's raise the rates, you raise enough. you only raise enough money to cover eight days of federal spending. stuart: what are you going to do? if that's the choice that you face you have to say yes or no. yes, i raise tax rates on the rich or no will not. >> you don't raise tax rates which. stuart: you would love no. and started to push like this.
i would rather go over the fiscal cliff. >> i don't want to go over the fiscal cliff, but i am not for raising the tax rates. you are not getting to the heart of the problem. it is continuing to sweep of the rock. stuart: you may come to a point where that is the twisted your facing. if he don't say yes on raising tax rates we will go over the cliff. when the going to do if push comes to shove at the very end of this month. >> and what we're trying to do them all we have been trying...
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another republican apparently willing to agree with tax hikes to get a deal on the fiscal cliff. that is the case now. what do republicans get in return? senator lindsey graham is live on that. martha: looks like a beautiful morning everywhere, doesn't it. new reaction as details are now emerging in yet another nfl football tragedy. this time a crash that killed a dallas cowboy player and left another player charged with manslaughter this morning. >> i think everyone in our organization who knew him is completely numb and has been numb the last couple days. football is a game of emotion. a lot of different emotions circulating. somehow how some way, we have to process it all and understand that life is different than football and we had a job to do today gressiv, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. music: "make someone happy" music:
another republican apparently willing to agree with tax hikes to get a deal on the fiscal cliff. that is the case now. what do republicans get in return? senator lindsey graham is live on that. martha: looks like a beautiful morning everywhere, doesn't it. new reaction as details are now emerging in yet another nfl football tragedy. this time a crash that killed a dallas cowboy player and left another player charged with manslaughter this morning. >> i think everyone in our organization...
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. >>> lawmakers are getting an earful about why they need to avoid the so-called fiscal cliff. >> you have to nail this down. uncertainty is killing us. >> reporter: top economists talked about the impact of tax increases and government spending cuts on the middle class. >> a couple thousand dollars, means a couple months rent for this family. >> reporter: the white house has made clear the country could go over the cliff, if republicans refused to raise taxes on the top 2% of american earners. >> for them to be burdened, unnecessarily, because democrats and republicans aren't coming together to solve this problem, gives you a sense of the costs involved in very personal terms. >> reporter: republican leaders say they will close loopholes loopholes and eliminate tax breaks to raise money. but insist that bush-era tax cuts must be extended for all americans. >> reporter: the standoff and the country's skyrocketing debt, concerns ryan shenecki. so much so that he's the guy in the suit, dancing gangnam style with former senator allen simpson. >> i'm keeping up on this baby. >> reporter:
. >>> lawmakers are getting an earful about why they need to avoid the so-called fiscal cliff. >> you have to nail this down. uncertainty is killing us. >> reporter: top economists talked about the impact of tax increases and government spending cuts on the middle class. >> a couple thousand dollars, means a couple months rent for this family. >> reporter: the white house has made clear the country could go over the cliff, if republicans refused to raise taxes...
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the joint economic committee hearing on what can be done for the fiscal cliff. treasury secretary timothy geithner says the administration is willing to go over the cliff, let taxes go up, let these taxes happen if republicans press the idea of no tax increases for the wealthy. the latest we've learned, president obama and house speaker john boehner have spoken by phone. no word on what they discussed or whether there are any meetings planned, but just the fact that they're talking seems to be progress these days here on capitol hill. >> we'll take that. tracie potts for us in washington. tracie, thanks. >>> egypt state television is reporting at least five people were killed in overnight flashes between supporters and opponents of egyptian president mohammed morsi. the street battles were the most violent since egypt's latest crisis erupted two weeks ago where morsi assumed near absolute power. the opposition is vowing more protests later today. >>> this morning, two australian radio hosts are apologizing for a prank call that's getting worldwide attention. it
the joint economic committee hearing on what can be done for the fiscal cliff. treasury secretary timothy geithner says the administration is willing to go over the cliff, let taxes go up, let these taxes happen if republicans press the idea of no tax increases for the wealthy. the latest we've learned, president obama and house speaker john boehner have spoken by phone. no word on what they discussed or whether there are any meetings planned, but just the fact that they're talking seems to be...
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and 53% say they trust president obama to avoid the fiscal cliff. compared to just 36% who trust republicans in congress. also today speaker boehner said he wouldn't rule out an agreement to raise taxes as part of a fiscal cliff deal. but he also said there's no progress. this is what winning looks like. joining me now, e.j. dionne and thank you both for your time. senator solis, the jobless rate is at a four-year low. that's quite an achievement. >> yes, reverend re. but we still need to do more. in sectors like retail and health care and tourism and hospitality. we need to do more because people are still suffering. we've got to put jobs back in infrastructure and construction and put our teachers. that's why the president is working so hard so we don't go off the fiscal cliff so we keep the most vulnerable people out of harm's way. to pay $2,200. we've got to talk about fairness here and i'm very excited that the public is listening to the message that the president has made very, very clear. >> 146,000 new private sector jobs last month but one
and 53% say they trust president obama to avoid the fiscal cliff. compared to just 36% who trust republicans in congress. also today speaker boehner said he wouldn't rule out an agreement to raise taxes as part of a fiscal cliff deal. but he also said there's no progress. this is what winning looks like. joining me now, e.j. dionne and thank you both for your time. senator solis, the jobless rate is at a four-year low. that's quite an achievement. >> yes, reverend re. but we still need to...
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. >> republicans reveal their fiscal cliff end game. give in on taxes and take the economy hostage again. congressman chris van hollen responds tonight. >>> somehow raising the medicare eligibility age is back in the fiscal cliff discussion. david cay johnston says it would be -- to do it, and he is here tonight. >> what we shouldn't be doing is try to take away your rights to bargain for better working conditions. >> in michigan, the president stands up for workers like he has never done before. >> these so-called right the work laws, they don't have to do with economics. they have everything to do with politics. >> tonight the president's big speech, and why the fight in michigan is an assault on workers everywhere. >>> plus, major news on a white house push for immigration reform. in 40 years after man's last trip to the moon, a return voyage may be a reality. astronomer derrick pitts will tell you why the golden spike is a big deal. good to have you with us, folks. thanks for watching. the new republican strategy is to take the amer
. >> republicans reveal their fiscal cliff end game. give in on taxes and take the economy hostage again. congressman chris van hollen responds tonight. >>> somehow raising the medicare eligibility age is back in the fiscal cliff discussion. david cay johnston says it would be -- to do it, and he is here tonight. >> what we shouldn't be doing is try to take away your rights to bargain for better working conditions. >> in michigan, the president stands up for workers...
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but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of getting close to it, the president has to be able to pivot and to say how do i turn this political advantage into a real policy accomplishment? and, wolf, i don't think you're going to do that with continued campaign style events like we just saw meeting with middle class families. okay. we get that. that occurred during the campaign. the white house has clearly gotten its message out. i think now there has to be a next step. you know, timing is everything in politics. and this is absolutely no different. what i'm getting from talking to some democrats on the hill is i think there's actually a lot of pen
but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of...
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and medicare out of the fiscal cliff debate. >> don't talk about them as if they are entitlements and give aways. these are programs people have paid for over their entire working lives and have earned these programs. >> if lawmakers and the president don't find a compromise, taxes for all americans will go up and across the board spending cuts will kick in on january first. danielle nottingham, cbs news washington. >>> the former head of the international monetary fund and the maid who accuse him -- accused him of sexual assault has settled her lawsuit. it stems from a 2011 encounter. he denied he attack the woman but resigned. terms of the settlement are confidential. she still faces prostitution related charges in france. >>> tonight, the music world is mourning the death of a superstar. the body of grammy nominated singer jenni rivera was found in the wreckage of a crash near mix co. rivera and six others died -- mexico. the 43-year-old was headed back to central mexico with her interage. cbs 5 reporter len ramirez has more. >> you could hear the music blaring out as people played
and medicare out of the fiscal cliff debate. >> don't talk about them as if they are entitlements and give aways. these are programs people have paid for over their entire working lives and have earned these programs. >> if lawmakers and the president don't find a compromise, taxes for all americans will go up and across the board spending cuts will kick in on january first. danielle nottingham, cbs news washington. >>> the former head of the international monetary fund and...
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you have increased fears about fiscal cliff, increased fears about capital-gains taxs. that added another layer of selling. after that happened you have a bad looking chart and technical factors come in. if you saw a bounce-bacc from 505 to 590 last couple weeks that is profit-taking again. there is good chance people locked in even short term gains over the past month and really tried to take advantage of the better trade. liz: exactly. you can't deny there is great opportunity to take profits of the table. look at fundamentals of the company. if you looked on every kid in america's wish-list for christmas or hanukkah there is apple product on there. call it what it is. it is a popular, popular get for anybody, no matter what, the question becomes is it a trade where people believe now that because apple is now facing competition, okay, from the android tablets and kindle fire which is undeniably hot as well, maybe people are starting to let it worm in their brain that apple might not always be the number one toy? >> there is certainly a chance of that and i think goog
you have increased fears about fiscal cliff, increased fears about capital-gains taxs. that added another layer of selling. after that happened you have a bad looking chart and technical factors come in. if you saw a bounce-bacc from 505 to 590 last couple weeks that is profit-taking again. there is good chance people locked in even short term gains over the past month and really tried to take advantage of the better trade. liz: exactly. you can't deny there is great opportunity to take profits...